In terms of the toxic NPS fallout, Texas ranks a close second to Missouri.  In response, the Texas Department of Banking has released a legislative proposal aimed at closing what it perceives are the loopholes in Chapter 154 of the Texas Finance Code. 

To facilitate discussion of the issues with death care operators, insurance companies and fiduciaries, the Department of Banking released an Explanation of Intent of Proposed Changes.   A few of the DOB issues include:

• Putting cemeteries on notice that they could be defined as a "funeral provider".
• The seller/permit holder must exercise reasonable controls over contract administration.
• The elimination of third-party preneed sellers.
• A minimum net worth of $100,000 for permit holders.
• A standard information brochure that covers both forms of funding.
• Income allocation requirements for non-guaranteed items.
• Distribution documentation.
• A new guaranty fund.